perceptions_now
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Australian Politics
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Perth WA
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Andrei.Hicks wrote on Sep 26 th, 2012 at 11:43am: perceptions_now wrote on Sep 26 th, 2012 at 11:30am: Andrei.Hicks wrote on Sep 26 th, 2012 at 9:33am: Milne discussing economics is akin to me discussing the internal mechanics of the Sudanese parliament.
This from a woman who heads a party that -
1) Would see some of us pay a 50% tax rate
2) Decimate the main industry of Australia with the loss of tens of thousands of jobs
3) Wants to increase the cost of living to families across Australia.
For a complete buffoon such as Milne to even look at the subject of economics and priorities - when her party is so far out of kilter is offensive to say the least.
I'm surprised at you Imcrook supporting a party that have shown they couldn't give a bugger about the economic well being of middle and lower Australia - all in their pursuit of nonsense policies driven by a beautiful green world (usually LSD fuellled).
Andrei,
For the record -
1) That has already happened & the world didn't end.
2) That is already happening now & has very little to do with either major Australian Political or the Greens.
3) That is also already happening, as witnessed by a declining disposable income, particularly over the last decade. I also expect that disposable income will continue to shrink, for some time, yet! You support people in the middle income brackets paying HALF of their income in tax???
That is NEVER acceptable. People spend their own money better than any Government will. Since when has the Australian middle income brackets paid 50% of their income in Tax???
Even the TOP bracket has been under 50% (gross - prior to the tax free component & tax deductions), since the early to mid 1980's and prior to that the TOP rates were quite a bit higher, BUT again, the world didn't end!
http://www.ato.gov.au/individuals/content.aspx?doc=/content/73969.htm
That said, I would prefer to see a systemic change, where all Government Taxes & all Government Expenditures, are simplified!
Both Personal & Business Taxes should be reset, with few Tax shelters or Deductions, at Tax rates low enough and Penalties high enough, to make Tax avoidance prohibitive, in fact irrelevant!
All other Taxes, under any guise, should also be rationalised and those on low incomes should be directly reimbursed, to balance their losses, maintain their disposable income & thus enable them with a capacity to continue to support acceptable levels of Demand, to drive that section of the Economy.
But, Revenue does not stand alone, it has a partner, commonly called Expenditure, which also needs to be thoroughly overhauled. There is, no doubt, a great deal of waste in what is spent, both by Governments & by Private Corporations.
That waste needs to be surgically removed, not with sweeping cuts, but with carefully planed incisions, so that the unnecessary waste goes, but the productive & Economically needed stimulants remain and are Productive.
However, I suspect that what will happen here, will be -
1) Sweeping Expenditure Cuts.
2) An increase in overall Tax/es.
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